Delivra Health Brands Enters into Licence Agreement with Canopy Growth to Manufacture and Distribute its Leading Infused Topical Brand LivRelief Infused™
May 24, 2023 – Vancouver, British Columbia – Delivra Health Brands Inc. (formerly, Harvest One Cannabis Inc.) ("Delivra Health" or the "Company") (TSX-V: DHB; OTCQB: DHBUF), a consumer packaged goods company uniquely positioned in the health and wellness sector, announced today that its wholly-owed subsidiary, Delivra Inc., has granted a subsidiary of Canopy Growth Corporation (“Canopy”), a leading global cannabis company, an exclusive strategic licence agreement dated May 23, 2023 (“Licence Agreement”) to manufacture, distribute and sell infused LivRelief TM branded topicals in Canada.
"We are very pleased to announce our second agreement with Canopy, this time to secure more efficient and cost effective supply and distribution for our LivReliefTM infused branded topicals, such as the transdermal cream that ranked as the top selling transdermal cream in Canada as of January 2023,"1 said Gord Davey, President and Chief Executive Officer of Delivra Health. "We expect our collaboration with Canopy will realize benefits well beyond the availability of our product on Canopy’s Spectrum Therapeutics’ online medical store. Through the agreement, Canopy will be responsible for manufacturing, distributing and selling the of LivReliefTM products in Canada, and we strongly believe that as an industry leader, Canopy will be able to grow the LivRelief TM brand to its full potential.”
LivRelief™ cannabis infused products are available nationally through Medical Cannabis by Shoppers™ as well as in cannabis stores throughout Ontario, British Columbia, Alberta, Saskatchewan, Manitoba, and New Brunswick.
LivRelief™ infused topicals are currently available in three unique SKUs – a CBD-only formulation containing 250mgs of CBD, a 1:1 format formulation containing 125mgs of THC and 125mgs of CBD, and an extra strength CBD topical cream containing 750mgs of CBD.
1. Source: Trellis January 2023 data
About Delivra Health Brands Inc.
Helping people take control of their health with alternative wellness solutions is what energizes the Delivra Health team! The Delivra Health portfolio features innovative brands like Dream Water™ and LivRelief™, which deliver relief from common everyday issues like chronic pain, anxiety, and sleeplessness. Delivra Health products have allowed millions of customers to reclaim their mobility, energy, and in turn, quality of life. The websites of the Company’s two subsidiaries are Dream Water™ and LivReliefTM. For more information, please visit www.delivrahealthbrands.com.
Cautionary Note Regarding Forward-Looking Statements
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates, and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements include, among other things, statements with respect to future supply and distribution of LivReliefTM infused branded topicals, projected rankings of LivReliefTM transdermal creams, projected benefits to the Company from the Licence Agreement, cost efficiencies to be created by the Licence Agreement, the Company’s growth objectives, increasing revenues and profitability, growth in new markets, and new distribution partners.
These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of the Company to materially differ from any future results, performance, or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: fluctuations in general macroeconomic conditions; fluctuations in securities markets; expectations regarding the size of the cannabis markets where the Company operates; changing consumer habits; the ability of the Company to successfully achieve its business objectives; plans for expansion; political and social uncertainties; inability to obtain adequate insurance to cover risks and hazards; employee relations and the presence of laws and regulations that may impose restrictions on cultivation, production, distribution, and sale of cannabis and cannabis-related products in the markets where the Company operates. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Readers should not place undue reliance on the forward-looking statements and information contained in this news release. The Company assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
Additional information regarding this and other risks and uncertainties relating to the Company's business are contained under the heading "Risk Factors" in the Company's annual information form dated March 2, 2021, and under the heading "Risks and Uncertainties" in the Company's management's discussion and analysis dated May 23, 2023, for the three and nine months ended March 31, 2023, filed under the Company's profile on SEDAR at www.sedar.com.
Neither TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accept responsibility for the adequacy or accuracy of this release.
Chief Financial Officer